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Arizona Arizona Corporation Income Tax Return
Extracted from PDF file 2023-arizona-form-120.pdf, last modified December 2009Arizona Corporation Income Tax Return
Arizona Form 120 2023 Arizona Corporation Income Tax Return For the calendar year 2023 or fiscal year beginning M M D D 2 0 2 3 and ending M M D D 2 0 Y Y . Check this box if this return is based on a 52/53 week taxable year. Business Telephone Number Name (with area code) Employer Identification Number (EIN) Address – number and street or PO Box Business Activity Code (from federal Form 1120) City, Town or Post Office State ZIP Code CHECK BOX IF return filed under extension: 68 Check box if: A This is a first return B Name change C Address change 82 82F A Is FEDERAL return filed on a consolidated basis?.......................................... Yes No REVENUE USE ONLY. DO NOT MARK IN THIS AREA. If “Yes”, list EIN of common parent from consolidated return...... 88 B ARIZONA filing method: See instructions (check only one): 1Separate company 2Combined (unitary group) 3Consolidated C If ARIZONA filing method is consolidated, enter the last day of the tax year Forms 122 were filed to make the election.............. M M D D Y Y Y Y D If ARIZONA filing method is combined or consolidated, see Form 51instructions. 66 RCVD 81 PM Is Form 51 included?....................................................................................... Yes No E ARIZONA apportionment for Multistate corporations only (check one box): 1AIR CARRIER 2STANDARD 3SALES FACTOR ONLY F Check if Multistate Service Provider Election and Computation (Arizona Schedule MSP) is included. Indicate the year of the election cycle: Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 G Is this the corporation’s final ARIZONA return under this EIN?....................... Yes No If “Yes”, check one: 1Dissolved 2Withdrawn 3Merged/Reorganized List EIN of the successor corporation, if any........ H Marijuana Establishments only: 1 Adult Use only 2 Dual Lic. elected for-profit 3 Dual Lic. did not elect for-profit. 1 Taxable income per included federal return.................................................................................................................. 1 00 2 Additions to taxable income from page 2, Schedule A, line A9..................................................................................... 2 00 3 Total taxable income: Add lines 1 and 2. Enter the total............................................................................................. 3 00 4 Subtractions from taxable income from page 2, Schedule B, line B11......................................................................... 4 00 5 Adjusted income: Subtract Line 4 from line 3. Enter the difference .......................................................................... 5 00 Multistate corporations, go to line 6. 100% Arizona corporations, check box 5a Go to line 13......................... 6 Arizona adjusted income from line 5. Multistate corporations only......................................................................... 6 00 7 Nonapportionable or allocable amounts from page 2, Schedule C, line C8. Multistate corporations only.............. 7 00 8 Adjusted business income: Subtract line 7 from line 6. Enter the difference. Multistate corporations only............ 8 00 9 Arizona apportionment ratio from Schedule E or Schedule ACA.................... 9 10 Adjusted business income apportioned to Arizona: Line 8 multiplied by line 9. Multistate corporations only........ 10 00 11 Other income allocated to Arizona from page 2, Schedule D, line D6. Multistate corporations only....................... 11 00 12 Adjusted income attributable to Arizona: Add lines 10 and 11. Multistate corporations only.................................. 12 00 13 Arizona income before Net Operating Loss (NOL) from line 5 if 100% Arizona, or line 12 if Multistate corporation... 13 00 14 Arizona basis NOL carryover: Include computation schedule........................................................................................... 14 00 15 Arizona taxable income: Subtract line 14 from line 13................................................................................................. 15 00 16 Enter tax: Tax is 4.9 percent of line 15 or fifty dollars ($50), whichever is greater............................................... 16 00 17 Tax from recapture of tax credits from Arizona Form 300, Part 2, line 23..................................................................... 17 00 18 Subtotal: Add lines 16 and 17. Enter the total............................................................................................................. 18 00 19 Nonrefundable tax credits claimed on line 20 from Arizona Form 300, Part 2, line 42................................................. 19 00 20 Enter form number for each nonrefundable credit used: 201 3 202 3 203 3 204 3 21 Tax liability: Subtract line 19 from line 18. Enter the difference.................................................................................. 21 00 22 Refundable tax credits: Check box(es) and enter amount: 221308 222334 223349................................. 22 00 23 Extension payment made with Form 120/165EXT or online: See instructions............................................................... 23 00 24 Estimated tax payments: 24a 00 Claim of Right: 24b 00 Add 24a and 24b.... 24c 00 25 Total payments: Add lines 22, 23, and 24c. Enter the total......................................................................................... 25 00 26 Balance of tax due: If line 21 is larger than line 25, subtract line 25 from line 21. Enter the difference. Skip line 27.. 26 00 27 Overpayment of tax: If line 25 is larger than line 21, subtract line 21 from line 25. Enter the difference..................... 27 00 28 Penalty and interest...................................................................................................................................................... 28 00 29 Estimated tax underpayment penalty. If Form 220/PTE is included, check this box........................................ 29A 29 00 30 TOTAL DUE: See instructions....................................................................................................................................... 30 00 31 OVERPAYMENT: See instructions................................................................................................................................ 31 00 32 Amount of line 31 to be applied to 2024 estimated tax.................................................... 32 00 33 Amount to be refunded: Subtract line 32 from line 31.................................................................................................. ADOR 10336 (23) 33 00 Name (as shown on page 1) EIN SCHEDULE A Additions to Taxable Income A1 A2 A3 A4 A5 A6 A7 A8 A9 Total federal depreciation.............................................................................................................................................. Taxes based on income paid to any state (INCLUDING ARIZONA), local governments or foreign governments....... Interest on obligations of other states, foreign countries, or political subdivisions....................................................... Special deductions claimed on federal return............................................................................................................... Federal net operating loss deduction claimed on federal return................................................................................... Additions related to Arizona tax credits: See instructions............................................................................................... Capital loss from exchange of legal tender................................................................................................................... Other additions to federal taxable income: See instructions........................................................................................... Total: Add lines A1 through A8. Enter the total here and on page 1, line 2................................................................. A1 00 A2 00 A3 00 A4 00 A5 00 A6 00 A7 00 A8 00 A9 00 SCHEDULE B Subtractions from Taxable Income B1 B2 B3 B4 B5 B6 B7 B8 B9 B10 B11 Recalculated Arizona depreciation: See instructions...................................................................................................... B1 00 Basis adjustment for property sold or otherwise disposed of during the taxable year: See instructions........................ B2 00 Dividends received from 50% or more controlled domestic corporations..................................................................... B3 00 Foreign dividend gross-up............................................................................................................................................ B4 00 Dividends received from foreign corporations.............................................................................................................. B5 00 Interest on U.S. obligations........................................................................................................................................... B6 00 Agricultural crops charitable contribution...................................................................................................................... B7 00 Expenses related to certain federal tax credits: See instructions................................................................................... B8 00 Capital gain from exchange of legal tender.................................................................................................................. B9 00 Other subtractions from federal taxable income: See instructions.................................................................................. B10 00 Total: Add lines B1 through B10. Enter the total here and on page 1, line 4.............................................................. B11 00 SCHEDULE C Nonapportionable Income and Expenses (Multistate Corporations Only) C1 C2 C3 C4 C5 C6 C7 C8 Nonbusiness dividends and interest income: a Total nonbusiness dividends not deducted in Schedule B...................................... C1a 00 b Interest from nonbusiness sources......................................................................... C1b 00 c Total nonbusiness dividends and interest: Add lines C1a and C1b........................................................................ Net royalties from nonbusiness assets: Include schedule. a Net royalties from nonbusiness real and tangible personal property...................... C2a 00 b Net royalties from nonbusiness patents and copyrights......................................... C2b 00 c Total net royalties from nonbusiness assets: Add lines C2a and C2b.................................................................... Net income or (loss) from rental of nonbusiness assets: Include schedule.................................................................... Net capital gain or (loss) from sale or exchange of nonbusiness assets utilized for production of nonbusiness income: Include schedule................................................................................................................................................ Other income or (loss): Include schedule........................................................................................................................ Subtotal: Add lines C1c, C2c, and C3 through C5....................................................................................................... Expenses attributable to income derived from a foreign corporation which is not itself subject to Arizona income tax: Include schedule.......................................................................................................................................... Total: Subtract line C7 from line C6. Enter the total here and on page 1, line 7......................................................... C1c 00 C2c 00 C3 00 C4 00 C5 00 C6 00 C7 00 C8 00 SCHEDULE D Other Income Allocated to Arizona (Multistate Corporations Only) D1 D2 D3 D4 Nonbusiness dividends and interest income: a Total nonbusiness dividends................................................................................... D1a 00 b Interest from nonbusiness sources......................................................................... D1b 00 c Total nonbusiness dividends and interest: Add lines D1a and D1b........................................................................ Net royalties from nonbusiness assets: Include schedule. a Net royalties from nonbusiness real and tangible personal property...................... D2a 00 b Net royalties from nonbusiness patents and copyrights......................................... D2b 00 c Total net royalties from nonbusiness assets: Add lines D2a and D2b.................................................................... Net income or (loss) from rental of nonbusiness assets: Include schedule.................................................................... Net capital gain or (loss) from sale or exchange of nonbusiness assets utilized for production of nonbusiness income: Include schedule.......................................................................................................................... D5 Other income or (loss) directly allocable to Arizona: Include schedule........................................................................... D6 Total: Add lines D1c, D2c, and D3 through D5. Enter the total here and on page 1, line 11...................................... ADOR 10336 (23) AZ Form 120 (2023) D1c 00 D2c 00 D3 00 D4 D5 D6 00 00 00 Page 2 of 5 Name (as shown on page 1) SCHEDULE E EIN Apportionment Formula (Multistate Corporations Only) IMPORTANT: Qualifying air carriers must use Arizona Schedule ACA. COLUMN A COLUMN B Qualifying multistate service providers must include Arizona Schedule MSP. Total Within Arizona Total Everywhere If the “SALES FACTOR ONLY” box on page 1, line E, is checked, complete Round to nearest dollar. Round to nearest dollar. only Section E3, Sales Factor, lines a through f. See instructions. E1 Property Factor - STANDARD APPORTIONMENT ONLY Value of real and tangible personal property (by averaging the value of owned property at the beginning and end of the tax period; rented property at capitalized value). a Owned Property (at original cost): COLUMN C Ratio Within Arizona A÷B Be certain to enter the amount in line 9 carried to six decimal places. You must type the decimal. 1 Inventories...................................................................................... 2 Depreciable assets (do not include construction in progress) ................ 3 Land................................................................................................ 4 Other assets (describe): 5 Less: Nonbusiness property (if included in above totals).................... 6 Total of section a (the sum of lines 1 through 4 less line 5).................... b Rented property (capitalize at 8 times net rent paid)................................. c Total owned and rented property (Total of section a plus section b)......... E2 Payroll Factor - STANDARD APPORTIONMENT ONLY Total wages, salaries, commissions and other compensation to employees (per federal Form 1120, or payroll reports). ................................. E3 Sales Factor a Sales delivered or shipped to Arizona purchasers............................. b Sales from services or from designated intangibles for qualifying multistate service providers only (see instructions; include Schedule MSP)................................................................................... c Other gross receipts........................................................................... d Total sales and other gross receipts. (The sum of lines a through c)....... e Weight AZ sales: (STANDARD x 2; SALES FACTOR ONLY x 1) f Sales Factor Only (for Column A, multiply line d by line e; for Column B, enter the amount from line d; for Column C, divide Column A by Column B.) Skip line E4 and line E5 STANDARD Apportionment, continue to E4. SALES FACTOR ONLY Apportionment, enter the amount from Column C on page 1, line 9.................................................................... ×2 OR ×1 E4 STANDARD Apportionment Total Ratio: Add Column C of lines E1c, E2, and E3f. Enter the total................................... E5 Average Apportionment Ratio for STANDARD Apportionment: Divide line E4, Column C, by four (4). Enter the result on page 1, line 9. (If one of the factors is “0” in both Column A and Column B, see instructions.)......................................... SCHEDULE F Schedule of Tax Payments (Include additional sheets if more space is needed.) (a) (b) Name of Corporation EIN (c) Payment Date (d) Estimated Payment (e) Extension Payment F1 MM DD YY 00 00 F2 MM DD YY 00 00 F3 MM DD YY 00 00 F4 MM DD YY 00 00 F5 MM DD YY 00 00 F6 MM DD YY 00 00 00 00 F7 Total Tax Payments.......................................................................................................................... ADOR 10336 (23) AZ Form 120 (2023) Page 3 of 5 Name (as shown on page 1) EIN SCHEDULE G Other Information G1 Date business began in Arizona or date income was first derived from Arizona sources: G2 Address at which tax records are located for audit purposes: Number and Street: City: State: MM D D Y Y Y Y ZIP Code: G3 The taxpayer designates the individual listed below as the person to contact to schedule an audit of this return and authorizes the disclosure of confidential information to this individual. (See instructions.) Name: Office Phone: (Area Code) Title: Email: Cell Phone: (Area Code) G4 List prior taxable years ending in MM/DD/YYYY format for which a federal examination has been finalized: NOTE: A.R.S. § 43‑327 requires the taxpayer, within ninety days after final determination, to report these changes under separate cover to the Arizona Department of Revenue or to file amended returns reporting these changes. (See instructions.) G5 List the taxable years ending in MM/DD/YYYY format for which federal examinations are now in progress and final determination of past examinations is still pending: G6 List the taxable years ending in MM/DD/YYYY format for which federal waivers of the statute of limitations are in effect and dates on which waivers expire: Taxable Year Ending: Waiver Expiration Date: G7 Indicate tax accounting method: Cash Accrual Other (Specify method.) Multistate taxpayers: G8 Are the nonbusiness items reported on Schedule C, lines C1 through C5, and/or are the apportionment factor amounts reported on Schedule E, Column B treated consistently on all state tax returns filed under the Uniform Division of Income for Tax Purposes Act? Yes No If “No”, the taxpayer must disclose the nature and extent of the variance upon request by the department. G9 Has the taxpayer changed the way income is apportioned or allocated to Arizona from prior taxable year returns? Yes No If “Yes”, include explanation. The following declaration must be signed by one of the following officers: president, treasurer, or any other principal officer. Declaration Under penalties of perjury, I, the undersigned officer authorized to sign this return, declare that I have examined this return, including the accompanying schedules and statements, and to the best of my knowledge and belief, it is a true, correct and complete return, made in good faith, for the taxable year stated pursuant to the income tax laws of the State of Arizona. Please OFFICER’S SIGNATURE DATE TITLE Sign Here Paid Preparer’s OFFICER’S PRINTED NAME PAID PREPARER’S SIGNATURE DATE PAID PREPARER’S TIN PAID PREPARER’S PRINTED NAME Use Only FIRM’S NAME (OR PAID PREPARER’S NAME, IF SELF-EMPLOYED) FIRM’S EIN FIRM’S STREET ADDRESS FIRM’S TELEPHONE NUMBER CITY ADOR 10336 (23) STATE ZIP CODE This form must be e-filed unless the corporation has a waiver or is exempt from e-filing. See instructions for details. AZ Form 120 (2023) Page 4 of 5 Name (as shown on page 1) SCHEDULE A EIN Additions to Taxable Income Continued A6 Additions related to Arizona tax credits: A Pollution Control Credit: 1 Excess Federal Depreciation or Amortization.......................................................... 2 Excess in Federal Adjusted Basis........................................................................... B Credit for Taxes Paid for Coal Consumed in Generating Electrical Power..................... C Credit for Employment of TANF Recipients.................................................................... D Credit for Donation of School Site.................................................................................. E Credit for Motion Picture Production Costs.................................................................... F Credit for Corporate Contributions to School Tuition Organizations............................... G Credit for Corporate Contributions to School Tuition Organizations for Displaced Students or Students with Disabilities............................................................................ H Total Additions Related to Arizona Tax Credits. Enter this amount on page 2, Schedule A, line A6......................................................... A8 Other additions to federal taxable income: A Positive Partnership Income Adjustment........................................................................ B Federal Exploration Expenses....................................................................................... C Federal Amortization or Depreciation for Facilities and Equipment Amortized Under Arizona Law: 1 Pollution Control Devices ....................................................................................... 2 Child Care Facilities ................................................................................................ D Expenses and Interest Relating to Income Not Taxed by Arizona.................................. E Tax-Exempt Insurance Company Loss........................................................................... F Amounts Repaid in Current Taxable Year...................................................................... G Excess Federal Capital Loss Carryover Under a Claim of Right Restoration................ H Domestic International Sales Corporations.................................................................... I Expenditures for the Americans With Disabilities Act..................................................... J Treatment of Installment Obligations When Corporate Activities Cease in Arizona....... K Total Other Additions to Federal Taxable Income. Enter this amount on page 2, Schedule A, line A8......................................................... SCHEDULE B 00 00 00 00 00 00 00 G 00 H 00 A B 00 00 C1 C2 D E F G H I J 00 00 00 00 00 00 00 00 00 K 00 A B C D 00 00 00 00 E 00 A B C D E 00 00 00 00 00 F1 F2 G H I J K L M N 00 00 00 00 00 00 00 00 00 00 O1 O2 00 00 P 00 Subtractions from Taxable Income Continued B8 Expenses related to certain federal tax credits: A Work Opportunity Credit................................................................................................. B Empowerment Zone Employment Credit....................................................................... C Credit for Employer-Paid Social Security Taxes on Employee Cash Tips...................... D Indian Employment Credit ............................................................................................. E Total Expenses Related to Certain Federal Tax Credits. Enter this amount on page 2, Schedule B, line B8......................................................... B10 Other subtractions from federal taxable income: A Refunds of Taxes Based on Income............................................................................... B Negative Partnership Income Adjustment...................................................................... C Expense Recapture, Mine Explorations......................................................................... D Deferred Exploration Expenses...................................................................................... E Exploration Expenses: Oil, Gas or Geothermal Resources........................................... F Arizona Amortization of Facilities and Equipment: 1 Pollution Control Devices........................................................................................ 2 Cost of Child Care Facilities.................................................................................... G Interest on Federal Taxable Arizona Obligations Evidenced by Bonds.......................... H Expenses and Interest Relating to Tax-Exempt Income................................................. I Tax-Exempt Insurance Company Income...................................................................... J Claim of Right Adjustment.............................................................................................. K Dividends from Domestic International Sales Corporation (DISC)................................. L Income from Disaster Relief Efforts................................................................................ M Expenditures for the Americans with Disabilities Act...................................................... N Contributions in Aid of Construction (see instructions)...................................................... O Marijuana Establishments only (see instructions) 1 Federal Disallowed Expenses, or............................................................................ 2 Federal Taxable Income Attributable to NMMD Operations..................................... P Total Other Subtractions from Federal Taxable Income. Enter this amount on page 2, Schedule B, line B10.......................................................................... ADOR 10336 (23) A1 A2 B C D E F AZ Form 120 (2023) Page 5 of 5 Print
Arizona Form 120
More about the Arizona Form 120 Corporate Income Tax Tax Return TY 2023
We last updated the Arizona Corporation Income Tax Return in February 2024, so this is the latest version of Form 120, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 120 directly from TaxFormFinder. You can print other Arizona tax forms here.
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TaxFormFinder has an additional 95 Arizona income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Arizona Form 120.
| Form Code | Form Name |
|---|---|
| Form 120S | Arizona S Corporation Income Tax Return |
| Form 120S-K1 | 120S Schedule K-1 - Resident Shareholder's Information Schedule |
| Form 120A | Arizona Corporation Income Tax Return |
| Form 120EXT | Application for Automatic Extension of Time to File Corporation, Partnership, and Exempt Organization Returns |
| Form 120S-K1-NR | Nonresident Shareholder's Share of Income and Deductions |
| Form 120/165ES | Corporate and Pass-Through Entity Estimated Tax Payment |
| Form 120/165ES Booklet | Corporate and Pass-Through Entity Estimated Tax Payment |
| Form 120ES | Arizona Corporation Estimated Tax Payment Booklet |
| Form 120W | Estimated Tax Worksheet for Corporations |
| Form 120X | Arizona Amended Corporation Income Tax Return |
View all 96 Arizona Income Tax Forms
Form Sources:
Arizona usually releases forms for the current tax year between January and April. We last updated Arizona Form 120 from the Department of Revenue in February 2024.
Form 120 is an Arizona Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Arizona Form 120
We have a total of twelve past-year versions of Form 120 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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